14 Comments

WRT business credit decline, Professor Steve Keen has ably demonstrated that negative credit ( macro economicallly) is indicatory of recession. It is likely that the housing market will be our saviour, unless that collapses.

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Bernard Hickey, your commentary on Russia especially is so limited. You have a very slanted OPINION of what is happening in the Ukraine, which does you and your listeners no favours. I don't expect you to be a Russian cheerleader but I do expect some sense of fairness and accuracy when reporting about the situation in both Russia and the Ukraine. Because you are not well versed on Russia, I'm starting to doubt your analysis of NZ economics as well. I know it is not safe to report accurately what is happening in Ukraine, or about Russia, otherwise you're bound to be cancelled, but a reasonably objective view would have been appreciated. For example, your reporting about Russian gas to Germany/Europe briefly touches on some areas of fact, but you tend to leave out other facts which provide a fairer and more accurate picture. I paid my subscription because I thought you would provide a reasonably balanced and accurate picture. Very disappointed.

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Aug 30, 2022·edited Aug 30, 2022

A few thoughts on today's Kaka :) Firstly, when the Europeans talk of ‘renewables’ during winter they mostly mean biomass, aka burning wood pellets, which for every megawatt hour of electricity it produces 15-20% more CO2 than coal. This is deeply concerning for obvious reasons.

I guess this European winter will show us how committed humanity is to protecting our biosphere and collective future, or if all along fighting climate change has just been about preserving industrialisation. Elon's comments certainly highlight what he's most interested in preserving, no surprises.

Secondly, Angus Luffmans comment about labour being a major struggle for business confidence. It’s as if despite decades of time to plan, businesses have completely failed to prepare for boomers retiring. Astoundingly lack of foresight. This is not confined to NZ either and will have the biggest impact on China in the coming decade.

Both of these issues has me considering more the possibility of voluntary degrowth being the best way out of this pickle we've got ourselves in. The world just needs a serious mindset shift after a few hundred years of worshiping industrialisation...no small feat.

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